Legal Affairs
Argentina Lawmakers Float Full Cannabis Legalization Plan
BUENOS AIRES – Argentina's lower house of Congress received a comprehensive Cannabis legalization bill, introduced by left-wing national deputies Myriam Bregman and Nicolás del Caño. The legislation would make Cannabis and all its derivatives fully ...
Glass House Brands Wraps Up Warrant Redemption
LONG BEACH – Glass House Brands Inc. confirmed that it has completed the redemption of all remaining warrants originally issued under a warrant agency agreement dated May 13, 2019, with Odyssey Trust Company serving as ...
Oregon Completes First Full Year of Psilocybin Services Data Collection
SALEM – Oregon Psilocybin Services (OPS) has wrapped up its 2025 quarterly reporting, giving the public its clearest view yet of how the state's regulated program performed over a full calendar year. Psychedelic Alpha released ...
Blind Spot: Cannabis Industry Falls Short on Communications
NEW YORK – Legal Cannabis brought in $38.5 billion in revenue in 2024. Whitney Economics estimated that figure to drop to between $29.1 billion and $29.6 billion in 2025, due to falling prices, tax pressures, ...
Cannabis 3.0 — The Body Was Designed to Heal
LOS ANGELES- The cannabis industry is entering a new phase. The first era—Cannabis 1.0—was defined by prohibition and the fight for legalization. Cannabis 2.0 followed, driven by commercialization: brands, retail expansion, and the rapid scaling ...
Week in Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Two weeks that rewrote the rules. That is the most accurate way to characterize what the U.S. Сannabis and Psychedelics industries have experienced heading into the final days of April 2026. Federal ...
IRS and Treasury Move to Clarify Cannabis Tax Rules
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service made an announcement, confirming they will issue formal guidance to address the federal tax consequences of a Department of Justice order that ...
Argentina Lawmakers Float Full Cannabis Legalization Plan
BUENOS AIRES – Argentina's lower house of Congress received a comprehensive Cannabis legalization bill, introduced by left-wing national deputies Myriam Bregman and Nicolás del Caño. The legislation would make Cannabis and all its derivatives fully ...
Glass House Brands Wraps Up Warrant Redemption
LONG BEACH – Glass House Brands Inc. confirmed that it has completed the redemption of all remaining warrants originally issued under a warrant agency agreement dated May 13, 2019, with Odyssey Trust Company serving as ...
Oregon Completes First Full Year of Psilocybin Services Data Collection
SALEM – Oregon Psilocybin Services (OPS) has wrapped up its 2025 quarterly reporting, giving the public its clearest view yet of how the state's regulated program performed over a full calendar year. Psychedelic Alpha released ...
Cannabis Industry Licensing Trends
LOS ANGELES- The rapid expansion of the cannabis industry in North America has shown signs of cooling in the first quarter of 2024, with a noticeable decline in the number of both active licenses and ...
Red Light Holland Advances Psilocybin Research with Successful Truffle Testing
LOS ANGELES- Red Light Holland Corp., a production and distribution of functional mushrooms and psilocybin truffles, has announced the successful initial testing and dehydration of psilocybin truffles at CCrest Laboratories Inc. in Montreal, Canada. This ...
Minnesota Senate Advances Cannabis Legislation
LOS ANGELES- The Minnesota Senate has passed a measure aimed at advancing the regulation and legalization of cannabis, with a narrow vote of 34 to 32, following its approval in the House last month by ...
Canopy Growth Secures Additional Funding Amid Financial Struggles
LOS ANGELES- Canopy Growth Corp., a Canadian cannabis producer, announced a new round of funding, securing approximately $50 million through a financing deal. This funding follows a $35 million capital raise in January and comes ...
Cookies Expands Influence in Florida Cannabis Market
LOS ANGELES- Cookies, a player in the cannabis industry, has recently enhanced its footprint in the Florida market, a move that comes on the heels of favorable legal advancements in the state. This strategic expansion ...
Minnesota’s Strategic Early Cannabis Licensing Initiative
LOS ANGELES- Minnesota lawmakers are evaluating a measure to issue some cannabis cultivation licenses prematurely to circumvent delays in the upcoming adult-use cannabis program. The move, reported by the Star Tribune, aims to utilize existing ...
DEA Reschedules Cannabis, Boosting Industry and Sparking Calls for More Reform
LOS ANGELES- This week, the Drug Enforcement Administration (DEA) made a significant policy shift by reclassifying cannabis under the Controlled Substances Act (CSA), moving it from Schedule I to Schedule III, alongside drugs like Tylenol ...
Public Safety and Inclusivity Drive Support for Cannabis Banking Legislation
LOS ANGELES- A recent poll by Morning Consult indicates that 64% of Americans support allowing cannabis businesses access to traditional banking services, suggesting such measures could enhance public safety. The poll aligns with growing legislative ...
Federal Reclassification of Cannabis Unlikely to Resolve Banking Challenges
LOS ANGELES- Despite the potential federal reclassification of cannabis to Schedule III under the Controlled Substances Act, significant banking hurdles remain for state-legal cannabis companies. The American Bankers Association (ABA) has highlighted that the change ...
Psyched Wellness Reports Revenue and Strategic Partnerships
LOS ANGELES- Psyched Wellness Ltd., a legal mushroom supplement company, disclosed its financial results for the first quarter ending February 29, which were reported in Canadian dollars. The company experienced a slight increase in revenue, ...
Georgia Governor Enacts New Hemp Cultivation and Regulation Law
LOS ANGELES- Georgia Governor Brian Kemp has signed into law a legislative package aimed at supporting the state's agricultural sector, which includes new regulations for the hemp industry. The laws introduce a comprehensive framework for ...
DEA Moves to Reclassify Cannabis to Schedule III
LOS ANGELES- The U.S. Drug Enforcement Administration (DEA) is reportedly planning to reclassify cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act, a change confirmed by anonymous sources and ...
California Advances Bill for Regulated Therapeutic Use of Psychedelics
LOS ANGELES- California is making strides in pioneering psychedelic-assisted therapy through proposed legislation aimed at establishing regulated centers for adult usage of substances like psilocybin, MDMA, and mescaline. The "Regulated Therapeutic Access to Psychedelics Act," ...
Attorney General Takes Legal Action Against Retailers for Selling Synthetic THC to Minors
LOS ANGELES- Nebraska's Attorney General, Mike Hilgers, has launched legal action against several local retailers for allegedly selling synthetic THC products to minors. The lawsuit, filed against entities including Midwest Smoke Shop, accuses the retailers ...
Planet 13 Advances Florida Expansion with Strategic Acquisitions
LOS ANGELES- Las Vegas-based multistate cannabis operator Planet 13 Holdings Inc. is poised to expand its footprint in the Florida medical cannabis market following regulatory approval to sell its existing license in the state. The ...
California’s Cannabis Tax Collection Challenges Highlight Business Closure Impact
LOS ANGELES- California's cannabis industry faces significant fiscal challenges as a substantial portion of overdue taxes remains uncollected, primarily due to the closure of indebted businesses. According to a new report by Greenwave Advisors, the ...
US DEA To Reclassify Cannabis In Historic Move
WASHINGTON, D.C.- In a landmark development, the Drug Enforcement Administration (DEA) has made a historic decision, concurring with the recommendations of the top federal health agency to reclassify cannabis from Schedule I to Schedule III ...
Lophos Holdings Inc. Expands Peyote Cultivation
Lophos Holdings Inc. — Lophos Holdings Inc., through its subsidiary Lophos Pharmaceuticals Corp., announces the successful planting of 3,000 peyote seeds, significantly surpassing its initial cultivation target of 1,000 plants for the year 2024. This ...
RIV Capital Fiscal Update and Strategic Developments
NEW YORK- RIV Capital Inc. an investment and acquisition firm, today reported its financial outcomes for the fiscal quarter and the nine-month period ending December 31, 2023. This period marks a transition following the adjustment ...
Upcoming Cannabis Legislation: Initiatives in Nebraska, Idaho, and Arkansas
LOS ANGELES- In the evolving landscape of U.S. cannabis legislation, three states—Nebraska, Idaho, and Arkansas—are poised to make significant strides. Nebraska and Idaho are looking to legalize medical cannabis, while Arkansas aims to expand its ...
Arrests Made in Multi-Nation JuicyFields Cannabis Investment Fraud
LOS ANGELES- The investigation into the JuicyFields cannabis investment scam, believed to involve fraudulent activities amounting to nearly $700 million, has culminated in the arrest of nine individuals. This case, noted as one of the ...
Dutchie Payments System Buckles Under Pressure on 4/20
LOS ANGELES- On April 20th, the cannabis community celebrates a day of significance – a day marked not only by camaraderie but also by substantial commercial activity. However, this year’s 4/20 brought a bitter experience ...
MedMen Winds Up Getting Wound Up: Files for Bankruptcy, Assets Placed in Receivership
NEW YORK- MedMen Enterprises has declared bankruptcy in Canada, announcing the decision on April 24 amid escalating financial troubles. With liabilities amounting to C$561 million ($410.4 million), the cannabis company has appointed B. Riley Farber ...
California Moves Closer to Legalizing Cannabis Cafés
LOS ANGELES- California's legislative efforts to allow cannabis cafés took a significant step forward as Assembly Bill 1775, championed by Representative Matt Haney (D), passed through a second Assembly committee. The bill received favorable votes ...
Study Finds THC Increases Survival Time in Palliative Care Patients
LOS ANGLES- A recent study conducted by German researchers has found that tetrahydrocannabinol (THC) may significantly extend the survival time of ambulatory palliative patients. Published in the peer-reviewed journal Medical Cannabis and Cannabinoids, the study ...
